The ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards declined more than 11% sequentially for the second quarter. The aggregate balance on all bank-issued credit cards for an individual bankcard borrower declined slightly from the previous quarter but rose nearly 2% compared to one-year ago. According to TransUnion’s “Trend Data,” 90+ day credit card delinquency declined to 1.17% in the second quarter, compared to 1.32% in the first quarter and 1.04% for 2Q/08. Delinquency was highest in Nevada, Florida and Arizona and the lowest in North Dakota, Alaska and South Dakota. Average credit card debt declined to $5,719, compared to $5,776 for 1Q/09 and $5,621 for the second quarter of 2008. The highest debt remains in Alaska, Tennessee and Nevada and the lowest average credit card debt was found in Iowa, North Dakota and South Dakota. TransUnion also revised its forecasts for the 90-day credit card delinquency rate to just over 1.2% nationally by year-end.
90+ DAYS DELINQUENCY
Source: TransUnion Trend Data